David P. Hochman Purchases 5,000 Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David P. Hochman bought 5,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average cost of $4.91 per share, for a total transaction of $24,550.00. Following the completion of the acquisition, the insider now directly owns 575,498 shares in the company, valued at approximately $2,825,695.18. This trade represents a 0.88 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Orchestra BioMed Trading Up 2.1 %

Shares of NASDAQ:OBIO traded up $0.10 during midday trading on Thursday, hitting $4.86. 1,156 shares of the stock were exchanged, compared to its average volume of 74,215. The stock has a market cap of $184.75 million, a P/E ratio of -3.02 and a beta of 0.44. Orchestra BioMed Holdings, Inc. has a twelve month low of $4.22 and a twelve month high of $10.44. The company has a 50 day moving average price of $5.56 and a 200-day moving average price of $6.26.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. The firm had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.81 million. On average, equities research analysts expect that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on OBIO shares. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Orchestra BioMed in a report on Friday, November 15th.

Institutional Trading of Orchestra BioMed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OBIO. Barclays PLC boosted its stake in shares of Orchestra BioMed by 281.3% during the 3rd quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after purchasing an additional 23,448 shares during the last quarter. Geode Capital Management LLC grew its stake in Orchestra BioMed by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 567,219 shares of the company’s stock worth $2,916,000 after acquiring an additional 11,002 shares during the period. State Street Corp raised its holdings in Orchestra BioMed by 12.4% in the 3rd quarter. State Street Corp now owns 429,613 shares of the company’s stock valued at $2,208,000 after acquiring an additional 47,308 shares during the last quarter. RTW Investments LP lifted its stake in shares of Orchestra BioMed by 46.0% during the 3rd quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock worth $42,180,000 after purchasing an additional 2,585,519 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Orchestra BioMed by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock worth $1,115,000 after purchasing an additional 8,107 shares during the last quarter. Hedge funds and other institutional investors own 53.55% of the company’s stock.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc operates as a biomedical innovation company. The company’s flagship product candidates include BackBeat Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.